Monday 5 December 2016

Households spent more on restaurants, hotels and shopping last month, as consumer spending accelerated - Visa

Published 11/08/2015 | 12:18

Conor Langford, Visa Europe’s country manager for Ireland, said the data is another positive indication for the recovering economy.
Conor Langford, Visa Europe’s country manager for Ireland, said the data is another positive indication for the recovering economy.

Households spent more on restaurants, hotels and shopping last month, as consumer spending accelerated, according to credit card company Visa.

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Consumer spending on all payment types increased by just over 6pc year-on-year last month, improving on the 5.6pc increase in June, according to the latest Irish Consumer Spending Index from Visa Europe.

Spending rose by close to 8pc on hotels, restaurants and bars, while shoppers also spent more on clothes and shoes, rising by 7.8pc year-on-year.

Conor Langford, Visa Europe’s country manager for Ireland, said the data is another positive indication for the recovering economy.

“Our July data shows that despite the bad weather across the country in July, consumers have remained very bright in their outlook,” he said. 

“People have been enjoying their nights out, whether it’s on the town in restaurants or pubs, or escaping the bad weather by catching a movie in the cinema.

“A trend of fashion makeovers is also underway, with spending on clothing and shoes increasing for the ninth month in a row as people pick up swimwear for holidays abroad and uniforms for children returning to school in September.”

Online shopping also enjoyed strong growth, with internet spend increasing by 11.4pc compared with July of last year, although the rate of expansion eased slightly from June’s figure of 13.5pc.

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